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Amazon raises maximum base pay- but staff still aren’t happy
https://www.whatjobs.com/news/employment-news/amazon-raises-maximum-base-pay-but-staff-still-arent-happy
By Nithya Bose in Employment News, posted May 1, 2022
Amazon is raising its maximum base pay to attract new staff and retain talent, but some employees say the rises are not enough to keep them at the firm.
Given historic inflation, which just touched a 41-year high, many workers believe the rises don't amount to much of a lift in the end.
Consumer goods prices have grown by approximately 8.5 percent in the last year.
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One company veteran, a non-technical program manager with nearly ten years of experience, said they've begun to pay more attention to calls from recruiters at other tech firms since their 11 percent increase was inadequate.
Some employees of the e-commerce behemoth are said to be dissatisfied with the company's new remuneration structure.
He added: "It's just not worth it to stay here any more."
The majority of the increase was made up of restricted stock units that will vest in two years.
Increases in base pay varied from 3% to 60%, depending on the position and tenure.
Amazon stated in February that it will raise its base salary threshold for most jobs from $160,000 to $350,000.
The company cited that most roles would see new pay ranges due to "a particularly competitive labor market."
The employees had highlighted low base salary as the second-most prevalent reason they want to quit Amazon, in an internal study conducted last year.
In a recent mass departure, at least 45 vice presidents and top executives left in the 15-month period beginning in January 2020.
A rift has also emerged between staff and the company over various unionization plans around the US.
Source: Yahoo! Finance
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